Mayor Domogan denies endorsing investment company
Posted: 2017-Feb-17 23.00.03 UTC+0800
BAGUIO — Baguio City Mayor Mauricio Domogan on Thursday said he is not endorsing any investment company that established an office in Baguio City.
Domogan said there are some individuals roaming the city and inviting residents to join an investment company, indicating that he (mayor) endorsed its operations.
He again warned the public to be careful in joining investment companies especially those collecting large sums, to avoid becoming victims of scams.
Domogan said complaints against Bullion Buyer Ltd. reached him last week.
He noted that Bullion Buyer Ltd. organized a "book launching" at the Baguio Athletic Bowl and he (Domogan) was invited to deliver an inspirational message.
This must have been mistaken by some prospective investors as an endorsement, Domogan said.
In the complaints, would-be investors found out that the investment company is not registered with the Securities and Exchange Commission (SEC) which also prompted the complainants to file a report with the National Bureau of Investigation – Cordillera Regional Office (NBI-CAR).
Domogan said he is not in any way connected with the company and was there to welcome the participants based on the invitation.
He further explained that in his speech, he cautioned the participants to be vigilant against investment companies that collect money.
The company representatives, at the time, assured that they will not collect any amount, the mayor said.
He encouraged the complainants to verify with the NBI and validate if the company is legitimate or not. (PNA)